How to Safely Buy Bitcoin as an Individual in China (Beginner's Guide)

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Newcomers to the crypto world! Eager to buy Bitcoin but worried about legality in China? Rest assured—this guide will walk you through the process step-by-step, using the OKX exchange. Remember, individual Bitcoin transactions are not illegal in China. Let’s dive in!


1. Legality of Buying/Selling Bitcoin in China

First, clarify this: While operating virtual currency-related businesses is restricted in China, individuals can legally buy/sell Bitcoin as a virtual commodity. No explicit ban means it’s permissible. So, proceed with confidence!


2. Pre-Purchase Preparations

Before buying Bitcoin, gather these essentials:

  1. Mobile Number: For login and verification codes.
  2. Email Address: Any provider (QQ, 163, Gmail) for account alerts.
  3. ID/Passport: Mandatory for KYC (Know Your Customer) compliance.
  4. Payment Method: Link a bank card, WeChat Pay, or Alipay.

3. Step-by-Step Bitcoin Purchase Guide

Follow these steps on OKX (a top-3 global exchange):

Step 1: Download OKX App or Visit Website

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Step 2: Register an Account

Step 3: Verify Identity (KYC)

Step 4: Set Security Passwords

Step 5: Deposit Funds

Step 6: Buy Bitcoin

Step 7: Monitor Trade Completion


FAQ Section

Q1: Is Bitcoin trading taxable in China?
A: Currently, no specific crypto tax laws exist, but report large gains as income.

Q2: Can I withdraw Bitcoin to a private wallet?
A: Yes! Transfer BTC to wallets like Ledger or Trust Wallet for added security.

Q3: What’s the minimum investment?
A: As low as ~10 CNY on OKX (varies by market price).

👉 Explore OKX’s low fees here!


Key Takeaways

Final Tip: Diversify investments and never share passwords! Happy trading!